The Extent of the Imbalances in Chinese Economic Growth: Challenges and Prospects

by Amaury Goguel

China’s unprecedented successes – 9% annual GDP growth since 1978, 800 million people lifted out of poverty, the world’s highest GDP in real terms and second highest in nominal terms – are the result of economic governance that has been acknowledged by analysts and financial strategists. And yet, over the last ten years, behind these positive results have developed major imbalances which the government’s interventionist approach will have to tackle.